The purpose of the Economic Indicators scorecard is to provide the public, elected officials, and City staff with a current snapshot of San Francisco’s economy. This scorecard presents timely information on economy-wide employment indicators, real estate and tourism.
The Commercial Real Estate summary provides a quarterly view of three primary commercial real estate indicators, office vacancy rates, office space net absorption, and Class A asking lease rate. The first chart shows office vacancy rate, which represents the percentage of available rental units, and net absorption, which represents the net change in occupied rental space between measurement periods. The second chart shows asking rents for Class A office real estate. Class A buildings are the highest tier offices in terms of construction and location.
The office vacancy rate of 8.4 percent in 2015 Q3 (July 1 – September 30, 2015) decreased by 0.7 percentage points since the prior quarter (April 1 – June 30, 2015) and by 2.0 percentage points since the same period of the prior year, 2014 Q3.
Class A asking lease rate was $66.80 per square foot per year in 2015 Q3, increasing by 0.13 percent since the previous quarter and by 5.3 percent since the same quarter of the prior year. Comparisons to the previous period use seasonally adjusted data.
Commercial Real Estate data comes from Jones Lang LaSalle.
Please click first on the chart above and then on the “Download” button in the bottom right corner of the visualization to view and download the data displayed in the chart.